CVC’s credit score administration arm has priced its first new US collateralised mortgage obligation (CLO) of 2024, and stated it was “well-received by the market”.
Apidos XLVII, a $507m (£473m) CLO, is especially comprised of broadly syndicated first lien senior secured loans. It has a five-year reinvestment interval and was supported by a bunch of recent and current buyers.
BNP Paribas acted because the lead arranger.
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CVC Credit score, the $43bn devoted credit score technique of the worldwide asset supervisor, stated that the Apidos XLVII is the second new CLO priced by its transatlantic performing credit score platform this yr.
This adopted the pricing of Cordatus Alternatives Mortgage Fund Re-issue final week.
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“We’re happy to have priced our first new US CLO of 2024 so early within the yr,” stated Kevin O’Meara, accomplice and world head of US performing credit score at CVC Credit score.
“Apidos XLVII was well-received by the market as a consequence of its clear portfolio and profitable ramping of belongings to this point.”
Gretchen Bergstresser, managing accomplice and world head of performing credit score at CVC Credit score, added: “The profitable pricing of Apidos XLVII is testomony to the unparalleled demand our world buyers have proven for the enticing, constant and market-leading efficiency our CLOs proceed to generate. We’re excited concerning the outlook for CLOs within the yr forward as extra members return to the market.”
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